Honeywell 2005 Annual Report Download - page 172
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"Applicable Margin" means (a) for Base Rate Advances, 0% per annum, (b) for Prime Rate Advances, 0% per annum and (c) for
Eurodollar Rate Advances and BA Advances, as of any date, a percentage per annum determined by reference to the Public Debt Rating in effect on
such date as set forth below:
Public Debt Rating
S&P/Moody's
Applicable Margin for
Eurodollar Rate Advances
and BA Advances Prior to
Term Loan Conversion Date
Applicable Margin for
Eurodollar Rate Advances and
BA Advances On and After
Term Loan Conversion Date
Level 1
A+ or A1 or above 0.200% 0.550%
Level 2
Lower than Level 1 but at least A or A2 0.240% 0.600%
Level 3
Lower than Level 2 but at least A- or A3 0.280% 0.700%
Level 4
Lower than Level 3 but at least BBB+ or Baa1 0.400% 0.87.5%
Level 5
Lower than Level 4 0.630% 1.375%
"Applicable Percentage" means, as of any date prior to the Term Loan Conversion Date, a percentage per annum determined by reference
to the Public Debt Rating in effect on such date as set forth below:
Public Debt Rating
S&P/Moody's Applicable
Percentage
Level 1
A+ or A1 or above 0.050%
Level 2
Lower than Level 1 but at least A or A2 0.060%
Level 3
Lower than Level 2 but at least A- or A3 0.070%
Level 4
Lower than Level 3 but at least BBB+ or Baa1 0.100%
Level 5
Lower than Level 4 0.12.5%
2